Confidence interval for the population percentage

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Reference no: EM13995511

1. Suppose Subway has carried out the study, using the sample size determined in that exer- cise, and 27.5% of the franchisees say they are pleased with their relationship with Subway. Construct and interpret the 95% confidence interval for the population percentage.

2. A research firm wants to be 90% confident that a population percentage has been estimated to within 3 percentage points. The research manager calculates the necessary sample size with 0.5 as his estimate of the population proportion. A new business school graduate who has just joined the firm questions the research manager further, and they agree that the pop- ulation proportion is no more than 0.3. If interviews cost $10 each, how much money has the new graduate just saved the company?

Reference no: EM13995511

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